Retirement means leaving many things behind. Unfortunately, taxes aren’t one of them. Taxes in retirement can be complicated. You might be drawing income from multiple sources, including 401(k) distributions, Social Security, interest from a savings account, a pension or even a part-time job. When tax time rolls around, figuring out how much you owe can … Read more
Dear Penny, I’ve earned more than the Social Security income limit for more than 35 years. I own my own business with my wife. She worked for 12 years before we had children and returned to work five years ago, but earns only $40,000. I earn enough in my business to pay both of us … Read more
The annual tax season now underway always presents an additional major task that’s usually ignored as Americans haul themselves across Uncle Sam’s deadline: How and why to buckle down and prepare yourself now for the same ritual next year. The year 2024 seems far down the road. But neglecting to review your income, spending and … Read more
Dear Penny, My grandfather worked hard his entire life and eventually became a fairly wealthy man. When he wrote his will, I was just a baby and my little sister had not yet been born. Half of his estate (minus personal property) goes to our mother, and half goes to me. Our mother has told … Read more
Do you want an easy way to get your finances sorted and refinance your debt? Do you need money fast to start a business or to develop it? Or maybe you just need money for day-to-day expenses, even if it’s just for one day. The best option is probably to get a same-day loan. The … Read more
Dear Penny, I have a 32-year-old daughter who seems to think that it’s OK not to pay rent or be a contributing adult while living with me. I have told her many times that she has to move out, and then she asks for time to get her finances together. That was two years ago. … Read more
Anyone 21 or older would have the ability to possess small quantities of marijuana and be permitted to grow a few plants in their house. According to the most recent reports coming out of Colorado, marijuana is a main cause of homicides in the state, and the challenge is simply getting worse. Marijuana is a … Read more
Here’s the thing: A lot of people have already put these money secrets to good use. They’ve found hundreds of dollars in savings, secured their family’s finances and padded their bank accounts. Now it’s your turn, 50-somethings. Putting all these secrets to use is actually easier than you might think. We’re betting you can knock … Read more
Adobe Stock, Getty Images and Chris Zuppa/The Penny Hoarder Dear Penny, A couple, together 20 years but not really a couple anymore, is together because they can’t afford to get a divorce. She retired after 30 years of hell from her employer and gets a pension. Both get Social Security. Is he entitled to any … Read more
Maybe you’d rather forget 2022 — we get it. But before getting too far into 2023, it’s a good idea to take stock of how your finances may have changed during the last 12 months and make any necessary adjustments. Here are five areas of your finances to check on so you don’t get any … Read more
